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  3. 4. (5 points) hitchcock exhibit use the following

4. (5 points) Hitchcock Exhibit Use the following selected date and additional information from the...

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Accounting

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4. (5 points) Hitchcock Exhibit Use the following selected date and additional information from the records of Hitchcock Corporation to answer the question that follows. Balance Sheet Data Accounts Receivable Inventories Prepaid Rent Accounts payable Salaries payable Taxes payable 2004 $50,000 22,000 13,000 13,000 9,000 18,000 2003 $40,000 25,000 5,000 20,000 15,000 11,000 Income Statement Data 2004 Depreciation Expense 6,000 Net Income 50,000 Required: Prepare the Operating Activities section of the Statement of Cash Flows for the year ended 2004. Use the INDIRECT Method

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